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New research reveals Australia only has 68 days of liquid fuel to keep us going if we’re cut off and that the country had increased its reliance on imported transport fuels.
That’s despite International Energy Agency (IEA) guidelines requiring us to hold 90 net import days’ worth.
‘The Australian Government tries to bolster this by including some 21 days of fuel in transit to Australia or on-board ships docked in foreign ports – the majority of which are foreign vessels,’ the report from the Australia Institute states.
‘There is no guarantee that this fuel would reach Australia in the event of a crisis.’
The report claims that if Australia needed to access US-based fuel reserves, it would take more than three weeks to get here.
The Australia Institute has warned the nation only has 68 days of liquid fuel to keep the country going in the event of a crisis that cuts off our supply
The report warns that Australia needs to reduce reliance on oil and encourage the uptake of electric cars
‘In the event of a global emergency, there is no guarantee the oil that Australia has been promised access to in the US would be practically accessible from across the Pacific or otherwise,’ said researchers.
The Australia Institute’s climate and energy program director, Richie Merzian, said Australia’s continuing dependence on liquid fuels represented a major energy security risk.
‘Australia has a national security problem when it comes to transport fuels. It’s worrying that Australia is almost entirely reliant on foreign oil for fuel consumption, leaving it ill-prepared to deal with international disruptions,’ Merzian said.
‘It should concern every Australian that 91 per cent of Australia’s fuel – like petrol and diesel – is linked to imports and most of that is used for transportation.
‘The federal government failed to deliver its final Liquid Fuel Security Review in 2019, and since then Australia has become more, not less fuel insecure,’ Merzian added.
The Australia Institute’s report recommends that the federal government should be looking to introduce measures that reduce the country’s reliance on fossil fuel supplies, including supporting the uptake of electric vehicles.
‘The Australian Government has no plan to electrify Australia’s vehicle fleet and does not provide direct financial incentives to reduce the cost of EV purchase,’ the report says.
‘Policies such as rebates or grants, tax breaks, and conversion bonuses for trading in old diesel or petrol vehicles are among the incentives that should be considered, alongside introducing fuel efficiency standards and incentivising transition for heavy diesel vehicles.’
‘Australia Institute research shows that the majority of Australians support policies to support EV uptake. Demand-side solutions to liquid fuel security, such as moving to EVs, are needed to significantly reduce our vulnerability.
‘Australia’s energy security policy should consider demand for oil and seek to reduce demand through the uptake of electric vehicles,’ it concludes.
Merzian says that the only ‘long-term’ solution to avoid rising petrol prices is to encourage the switch to electric vehicles.
‘High petrol prices are already hurting Australians. The only long-term solution is getting off oil. This involves increasing fuel efficiency and transitioning to electric vehicle,’ Merzian said.
‘Australia is an international laggard when it comes to fuel efficiency. Weak fuel standards and an absence of a national electric vehicle policy leave Australia among the least fuel-efficient fleets in the OECD, and far behind the rest of the world in electric vehicle uptake.’
Source: DailyMail AU